Mixed News for Plainfield Real Estate Market in October, 2012

The news was somewhat mixed for the Plainfield real estate market in October, 2012. That’s because improvements seen in total sales were offset by losses in the pending sales department. Starting with total sales, the latest figure of 33 closings represents a 22.2-percent increase versus the previous month’s total of 27. And compared to last October’s total of 31 it is a 6.5-percent improvement. However, an average of 30 closings took place per month, from August through October of this year, compared to 1 year ago, when the average was 35 closings each month during this same period. This translates to a 14.3-percent decrease.

October’s total of 22 pending sales was off by 8.3 percent versus the previous month’s total of 24, but down a much more disappointing 24.1 percent compared to 1 year ago. From August through October of this year there were on average 27 pending sales each month, or nearly 13 percent fewer, compared to a monthly average of 31 during this same quarter 1 year ago.

There were 178 homes on the Plainfield market in October, or 1.7 percent fewer, relative to the previous month. In fact, October marked the 4th straight month that the number of homes on the market fell relative to the previous month. October’s total of 178 is also am 8.2 percent decrease in total listings compared to last October’s total of 194. What’s more, from August through October of this year there were, on average, a total of 180 homes on the market each month, or 10 percent fewer, compared to this same period 1 year ago.